The article presents the changes in taxation codes and government laws of Romania, as it enters the European Union (EU).Major changes take place in the international community regarding globalization. Being on the verge of entering the European Union (EU), Romania is finally making some major changes on the legal side as well as in taxation.

The harmonization with the international accounting referential started a long time ago when Romania signed the European Directives. But using the International Standards (IAS and IFRS) in Romania won't be that easy. And that's because the Romanian accounting system is subordinated to taxation. There is the need to cut off this subordination and let accounting do its job of being the source of information for users who need information through accounting.

We can only ask if the international standards are able to give an answer to the attitudinal changes in the country. The reticence regarding applying the standards exists not only at a country level but also at the enterprises' level. Anyway, these standards are used in the EU countries and now even excommunist countries, such as Romania, have started to use them. The need to implement a harmonization program is obvious: Attracting foreign investments and also entering EU.

After the fall of the communism, Romania had two periods of reform in the accounting system. The first period (199499) brought about a new accounting system, based on the French model, which was a dual accounting system. The second period (after 1999) was influenced by experts from Scotland, UK, who brought a new approach towards the system, which opened up to the European Directives and also to the use of the international standards (IASIFRS).

The Accounting World Magazine, Taxation Code, ValueAdded Tax, VAT, Gross Domestic Product, GDP, Romanian Legislation, European Countries, Romanian Government, Dual Accounting System, International Standards, European Directives, Foreign Investments, Romanian Legislators.